N. Korea begins enforcing price controls in local markets
North Korean authorities have begun enforcing price controls after commodity prices spiked following the closure of the Sino-North Korean border, Daily NK has learned.
“Officials from the commercial management department in Hamhung’s people’s committee started to enforce price controls in local markets about three or four days ago,” a South Hamgyong Province-based source told Daily NK on Feb. 10.
“The people’s committee is ordering local merchants not to raise their prices because of the crisis surrounding the coronavirus. They have even threatened merchants that they will no longer be allowed to conduct business activities if they raise their prices,” the source added.
Officials affiliated with the commercial management department are checking to see whether merchants have raised prices at Samil Market, Sapo Market, Kumsa Market and other markets in Hamhung at least twice a day, according to sources.
Kumsa Market is in a two-story building and merchants on the first floor reportedly contact those on the second-floor whenever commercial department officials show up to warn them. ......